Nationwide Fund Advisors Increases Stake in Pebblebrook Hotel Trust (PEB)
Nationwide Fund Advisors raised its position in Pebblebrook Hotel Trust (NYSE:PEB) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,032 shares of the real estate investment trust’s stock after buying an additional 882 shares during the period. Nationwide Fund Advisors owned 0.07% of Pebblebrook Hotel Trust worth $1,392,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heitman Real Estate Securities LLC acquired a new position in Pebblebrook Hotel Trust during the first quarter worth $88,057,000. Forward Management LLC raised its position in Pebblebrook Hotel Trust by 2,918.3% in the second quarter. Forward Management LLC now owns 935,800 shares of the real estate investment trust’s stock worth $24,566,000 after buying an additional 904,796 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Pebblebrook Hotel Trust during the second quarter worth $16,820,000. Hood River Capital Management LLC acquired a new position in Pebblebrook Hotel Trust during the second quarter worth $13,539,000. Finally, Silvercrest Asset Management Group LLC raised its position in Pebblebrook Hotel Trust by 19.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,346,553 shares of the real estate investment trust’s stock worth $68,214,000 after buying an additional 388,199 shares during the period.
Pebblebrook Hotel Trust (NYSE:PEB) opened at 27.22 on Wednesday. The firm has a market cap of $1.96 billion, a P/E ratio of 15.91 and a beta of 1.35. Pebblebrook Hotel Trust has a 1-year low of $20.51 and a 1-year high of $37.43. The firm has a 50 day moving average of $27.27 and a 200 day moving average of $27.54.
Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $212.27 million for the quarter, compared to analyst estimates of $212.93 million. Pebblebrook Hotel Trust had a net margin of 17.76% and a return on equity of 8.47%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. On average, equities research analysts expect that Pebblebrook Hotel Trust will post $2.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were given a $0.38 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 5.61%. Pebblebrook Hotel Trust’s dividend payout ratio is presently 88.89%.
PEB has been the topic of a number of research reports. Zacks Investment Research lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. TheStreet raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Evercore ISI lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and lifted their price target for the company from $27.00 to $30.00 in a research report on Wednesday, July 20th. BTIG Research initiated coverage on shares of Pebblebrook Hotel Trust in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Co. lowered shares of Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $30.67.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is organized to acquire and invest in hotel properties located primarily in cities of the United States. The Company has interests in approximately 40 hotels, including over 30 owned hotels with a total of approximately 7,410 guest rooms, and approximately 49% joint venture interest in over six hotels with a total of approximately 1,790 guest rooms.
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